How Internet of Things can save you Money?

Internet of things is buzzword many of you might have heard about it. Internet of things is network of connected objects. Consider the scenario where every objects, animals or peoples are provided with unique identification number and they are able to exchange information & capture the data over network without human intervention. This is possible by use of wireless and sensor network. Yes Internet of Things (IOT) is next big revolution which will revolutionize our life.

Today we don’t have time and attention towards many things and we are not good at capturing data real time. This technology will capture and track all data without any human intervention and help us in reducing waste, costs and inconvenience while increasing efficiency and safety. By IOT we will also come to know when we need to replace, repair or upgrade our devices.

Let’s check out how Internet of Things technology can save you money.

Smart Home

Internet of things will turn your home to smart home. You will be able to monitor and control your home appliance from anywhere.

Thermostats and lighting will be acquainted with your habit and create optimal setting based on your daily life.

You can turn on air conditioner just before you reach at home.

It will turn off pump automatically incase of water level in tank is about to cross limit.

These smart devices also sense presence if no one is in the house it will be turned off automatically to reduce waste and cost.

Grocery List

Smart Refrigerators will keep record of items kept inside refrigerator and update grocery list if any item is running low. It will also push reminder on your mobile. This will ensure that you never have to make second trip at grocery store.

Updated grocery list also reduce expense as it make sure that you purchase item which is really required.

Smart Car

Internet of Things will turn your car in to smart car. Your car will automatically reach to mechanic when it is time for tune up, oil change or tire pressure is running low. As your smart car is maintained well it will give you extra mileage and leads to extra saving.

Driving and Traffic Jams

Driving will be safe by Internet of things any unsafe condition will be reported on car dashboard. Traffic singles will able to adjust to real time traffic conditions. You will able to get information about traffic jams in real time so that you can select optimum route to save time and money.

Monitoring Health

Internet of things will keep your doctor posted about your ongoing health issue. Doctor will able to monitor blood pressure and sugar level remotely. Doctors will be kept informed how often and when you are taking medicines.

This regular health monitor will make sure your health is in correct state and you will save a lot by unwanted medical expenses.

Business Advantage

Internet of things will also give you cutting age in business. IOT will help you in measuring actual performance data of equipment instead of estimate. Industrial companies lose money when equipment fails. IOT can save money by minimizing equipment failure and allowing business to carryout plan maintenance. Sensor installed in car can also give you information about driving behavior speed etc. This will help you to reduce fuel expense.

Internet of Things (IOT) is just starting up in India. It will take still some more time to propagate this technology. By 2017 you will see some fruits in IOT. Companies like cisco have already started work on this technology.

Believe me this technology will revolutionize your life. Technological limitations are diminishing exponentially. When billions of things are connected, talking and learning, the only limitation left will be our own imaginations!

Hi, I am Shitanshu. By Profession I am Engineer and working in the IT field. I am crazy about Finance and like to research on financial matters. I have written 80+ article on this blog. If you like my efforts kindly subscribe to this blog and also let your friends know about this website by sharing.

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